Market Dynamics
Hemostats and tissue sealants are used in a wide range of medical applications that include
hernia fixation surgery, orthopedic surgery, spinal injury, trauma or accident wound closure,
ophthalmic injuries or replacements, burns, neurosurgeries, urological disorders, and other
chronic conditions to control excessive bleeding. Thus, increasing number of surgical procedures
is expected to be a major factor augmenting growth of the global hemostasis and tissue sealing
agents market. For instance, according to the Wound Management Innovation Center, 2015,
wounds are estimated to affect over 433,000 people in Australia and the economic burden is
estimated to be around US$ 2.85 billion per year. Moreover, according to The World Bank in
2012, the number of surgical procedures performed per 100,000 population were accounted to
be 4,511 globally. However, lack of reimbursement for these agents and products could hinder
the market growth.
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Key players operating the global hemostasis & tissue sealing agents market include Cryolife, Inc.
Baxter International, Inc., Ethicon LLC, Integra Lifesciences Corporation, Becton, Dickinson &
Company, Cohera Medical, Inc., Pfizer, Inc., Medtronic plc, B. Braun Melsungen AG, MIL
Laboratories Pvt. Ltd, Advanced Medical Solutions Group Plc, and others.
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